The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale In Non-Specialised Stores 47.19 - Other Retail Sale In Non-Specialised Stores
226 jobs Number of planned job losses
Announcement Date
15 November 2024
Employment effect (start)
15 November 2024
Foreseen end date
30 September 2025
Description
The DFS Group, part of the group LVMH, has announced the imminent closure of the historic Fondaco dei Tedeschi shopping centre in Venice, a decision that will result in the dismissal of 226 employees.
The closure follows the expiration of the location's lease agreement with the DFS Group and the shopping centre's significant financial struggles, having accumulated losses exceeding 100 million euros. The group mentioned that this closure is part of a global strategy.
City officials in Venice have expressed strong criticism of the decision, emphasizing its devastating impact on both the local economy and the affected families.
Eurofound (2024), DFS, Closure in Italy, factsheet number 201972, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201972.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
